Residential Income Property with City
For Sale
$575,000
240 E 35TH Street 9B, New York City, NY 10016
Bright one-bedroom residence with generous storage, custom built-ins, and access to full-service cooperative amenities.
Property Size700 SF
Price / SF$821.43
Days on Market151
Property Features for 240 E 35TH Street 9B
General Information
Standard status
Active
Size
700 SF
Property subtype
Apartment
Building Details
Building Size
700 SF
Year Built
1956
Listing Agency:
Douglas Elliman Real Estate
Listed By:
MELINDA SICARI
(917) 675-5048
Source:
Nobleblackandpartners
Added: Apr 9
Changed: Sep 3
Last Checked: Sep 5 at 5:21AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
This bright corner one-bedroom residence features a galley kitchen, pantry and linen closet, bathroom with tub-and-shower combination, and a generously sized bedroom with two en-suite closets. A hallway walk-in closet adds substantial storage. The living room includes custom wooden built-ins, LED spotlights, multiple seating zones, and windows overlooking Midtown Manhattan, park, tree, and skyline views. The residence is located at 240 E 35TH Street 2B in New York City’s Murray Hill neighborhood.
The full-service cooperative offers a 24-hour doorman, live-in superintendent, roof deck with west, north, and east panoramas, landscaped backyard terrace, central laundry, bike room, storage, and a parking garage. Pets are celebrated, and parents buying for children, guarantors, co-purchasing, gifting, and pieds-à-terre are considered case by case. The building was constructed in 1956, with an assessment scheduled through August 2027.
The full-service cooperative offers a 24-hour doorman, live-in superintendent, roof deck with west, north, and east panoramas, landscaped backyard terrace, central laundry, bike room, storage, and a parking garage. Pets are celebrated, and parents buying for children, guarantors, co-purchasing, gifting, and pieds-à-terre are considered case by case. The building was constructed in 1956, with an assessment scheduled through August 2027.
Key Highlights
- Bright corner one‑bedroom residence with Midtown Manhattan, park, tree, and skyline views
- Generous bedroom with two en‑suite closets plus a hallway walk‑in closet
- Living room features custom wooden built‑ins, LED spotlights, and multiple seating zones
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,901
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.81%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$438,020
$438.0K
Cap Rate 7%
$312,871
$312.9K
Cap Rate 9%
$243,344
$243.3K
Market Conditions
NOI Build-Up for 700 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$41.9K $59.88/SF
− Vacancy
−$2.1K −$2.99/SF
EGI
$39.8K $56.89/SF
− OpEx
−$17.9K −$25.60/SF
NOI
$21.9K $31.29/SF
Area
New York, NY
Vacancy
5.00%
Lease Rate
$59.88 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$438,020
Cap Rate 7%
$312,871
Cap Rate 9%
$243,344
Alternative Uses
Best Use
Apartment 5plus
$312.9K
$273.8K – $365.0K
NOI $21,901 @ 7.0% cap · market cap 3.81%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.74M
$1.52M – $2.03M
NOI $121,968 @ 7.0% cap · market cap 21.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
59,430
Businesses Nearby
Explore this area
Business Placement
Demographics for 10016, NY
62,336
Population
36,985
Households
1.7
Avg Household Size
34
Median Age
82%
College-Educated
97%
High-School Grad
0.5 sq mi
ZIP Area
124,672
Density / Sq Mi
$153,065
Median Household Income
$107,691
Median Earnings
$3,321
Median Rent
$928,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Bright one-bedroom residence with generous storage, custom built-ins, and access to full-service cooperative amenities.
Where is this residential income property located?
The property is located at 240 E 35TH Street 9B New York City, NY.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Bright corner one‑bedroom residence with Midtown Manhattan, park, tree, and skyline views; Generous bedroom with two en‑suite closets plus a hallway walk‑in closet; Living room features custom wooden built‑ins, LED spotlights, and multiple seating zones
